Welcome to the Wall Street Week newsletter, bringing you stories of capitalism about things you need to know, but even more things you need to think about. I’m David Westin, and this week Ana Botín, executive chair of Banco Santander, told us the reasons for her bank’s success this year. Plus, we delved into the strange new world of quantum computing. If you’re not yet a subscriber, sign up here for this newsletter.
By all accounts the largest bank in Spain, Banco Santander has had a very good year. Executive Chair Ana Botín points to high profits, “for shareholders, great value creation,” and a “share price up 100%.” With all that success, she sees more yet to come: “Our multiples are still very attractive compared to US banks.”